Broker banned after T.O., other NFLers lose millions

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Broker banned after T.O., other NFLers lose millions

WASHINGTON -- A Wall Street broker was barred from the securities industry after he led 31 NFL players to invest in a controversial Alabama casino that went bankrupt, losing them more than $40 million.

The Financial Industry Regulatory Authority, a self-regulatory body for Wall Street, said Thursday that the broker, Jeffrey Rubin of Lighthouse Point, Fla., made four unsuitably risky investment recommendations to one of his customers. The client was retired Baltimore Ravens player Samari Rolle, according to regulatory filings, and he lost $3 million.

Rolle declined to comment.

One of Rubin's recommendations was to invest in an Alabama casino that eventually went bankrupt. Starting in January 2008, Rubin also referred 30 other NFL players, including Terrell Owens, Plaxico Burress, Clinton Portis, Santonio Holmes, Santana Moss, Fred Taylor, Jevon Kearse and Kyle Orton, to invest in this casino. Together, they lost about $40 million.

The Country Crossing casino shut down under pressure from Alabama's gambling task force in 2010. Its developer, Ronnie Gilley, pleaded guilty to offering bribes to legislators.

"This case demonstrates how broker misconduct can target high-income, inexperienced, and vulnerable investors," Brad Bennett, Finra's executive vice president and chief of enforcement, said in a statement. "Jeffrey Rubin took advantage of professional athletes who placed their trust in him."

Rubin neither admitted nor denied the charges.

Finra also said that Rubin received a 4 percent ownership stake and $500,000 from the casino project's promoter for these referrals. Additionally, Rubin failed to get the necessary approval of his employers, Alterna Capital Corp. and International Assets Advisory LLC, for the securities. Rubin also operated Pro Sports Financial, which provided financial-related "concierge" services to professional athletes for an annual fee.

The NFL said in 2011 that it was investigating the player investments, which might have run afoul of league rules. A spokesman for the NFL declined to comment Thursday. NFL rules bar employees from involvement with any gaming operation. Players violating that rule could be subject to fines or suspensions and have to give up their investment.

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Sixers' game vs. Kings rescheduled for Jan. 30

Sixers' game vs. Kings rescheduled for Jan. 30

The NBA has determined a new date for the Sixers home game against the Kings, which was postponed on Nov. 30 because of unsafe playing conditions on the court.

The game has been rescheduled for Monday, Jan. 30 at 6 p.m. This will create back-to-backs for both teams.

The Sixers are playing in Chicago on Jan. 29. They will play consecutive games against the Bulls and Kings, then have a road back-to-back against the Mavericks and Spurs on Feb. 1 and 2.

The Kings will be on what is now an eight-game road trip. They will play a back-to-back against the Rockets the next night in Houston.

Former Flyers coach Bill Dineen dies at 84

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The Associated Press

Former Flyers coach Bill Dineen dies at 84

Bill Dineen, who had the distinction of being Eric Lindros’ first NHL coach, died early Saturday morning at his home in Lake George, New York. He was 84.
 
“Such a wonderful person, who got along with everybody,” Flyers president Paul Holmgren said. “I never played for him, but worked with him in scouting. Just a great guy.” 
 
Dineen succeeded Holmgren as head coach during the 1991-92 season.
 
“When I got fired, a lot of our guys were squeezing their sticks,” Holmgren said. “They were tight. It shouldn’t be hard to play the game. When things got tough, they were a little under stress, Billy coming in, he loosened things up.”
 
Dineen coached parts of two seasons here from 1991-92 through the 1992-93 season, which was Lindros’ first year as a Flyer.
 
“Bill treated everyone with the utmost respect,” Holmgren said. “He was the perfect guy for Eric coming in here. That respect goes both ways. He was almost a grandfatherly figure for Eric at the time.”

Dineen served as a scout with the organization from 1990-91 until succeeding Holmgren as coach. He then returned to a scouting role in 1993-94 and remained with the Flyers as a scout through 1996-97.
 
Mark Howe, one of the greatest Flyers defensemen of all-time, played for Dineen as an 18-year-old rookie in the WHA with the Houston Aeros (1973-74), and also had him during his final year as a Flyer in 1991-92.
 
“He was one of the best people I ever met in the game of hockey,” Howe said. “He was a real players coach. Of all the guys I ever played for. Maybe a little Paul Holmgren, too. 
 
“If you lost the game, he was one of the very few people if you went for a bite to eat or a beer after the game you lost, you actually felt poorly for letting the coach down.”
 
Howe said Dineen’s teams weren’t all about skill.
 
“He picked people that were about ‘the team,'” Howe said. “He made me earn my spot that first year in Houston.”
 
Dineen posted a 60-60-20 record with the Flyers. His son, Kevin, played on both of those teams before assuming the captaincy from Rick Tocchet in 1993-94. 
 
A gentleman behind the bench, Bill Dineen was much the same person as a player. A former right wing who spent the majority of his six-year playing career with the Detroit Red Wings, he had just 122 penalty minutes in 322 games, scoring 51 goals and 95 points.
 
“I knew Billy for a long time," Flyers senior vice president Bob Clarke said. "He was a player and coach at the minor league level and the NHL level, but I think more importantly he was a really, really good hockey person and really good person.” 

Dineen won two WHA titles coaching the Aeros and two Stanley Cups as a player with the Red Wings. A member of the AHL Hall of Fame, Dineen also coached the Adirondack Red Wings from 1983 through 1988-89.
 
Three of his five sons — Gordon, Peter and Kevin — played in the NHL. Sons Shawn and Jerry had their roots in the AHL. 
 
“His boys are scattered all over the map,” Holmgren said. “Just a tremendous hockey family.”
 
Dineen is part of Flyer folklore trivia. He, along with Keith Allen and Vic Stasiuk, were all Red Wings teammates during 1953-53. They also shared something else in common: all three later  became Flyers head coaches.